Ubisoft 2016 Annual Report Download - page 112

Financial statements
5Consolidated fi nancial statements asatMarch31, 2016
DECLARATION OF COMPLIANCE
The consolidated fi nancial statements for the fi nancial year
ended March 31, 2016 have been prepared in accordance with the
International Financial Reporting Standards (IFRS) applicable at
March 31, 2016, as adopted by the European Union.
Only those standards approved by the European Commission and
published in its offi cial journal prior to March 31, 2016, and which
have been mandatory since April 1, 2015, have been applied by
the Group to its consolidated fi nancial statements for the fi nancial
year ended March 31, 2016. No standard or interpretation whose
application does not become mandatory until after March 31, 2016
has been applied early to the consolidated fi nancial statements for
the fi nancial year ended March 31, 2016.
The IFRS standards as adopted by the European Union differ in some
ways from the IFRS standards published by the IASB. However, the
Group has made sure that the fi nancial information presented would
not have been substantively different if it had applied IFRS standards
as published by the IASB.
Standards, amendments and interpretations
adopted by the European Union and mandatory
for fi nancial years beginning on or after
January1,2015
♦ IFRIC 21 – Levies charged by public authorities;
♦ Amendment to IAS 19 – Employee benefi ts;
♦ Annual improvements to IFRS 2010/2012;
♦ Annual improvements to IFRS 2011/2013.
Details of the impacts of IFRIC 21 on the Group’s fi nancial statements
are provided in section 5.1.6.
The annual improvements to IFRS applicable to fi nancial years
beginning on or after January 1, 2015 had no material impact on
the Group’s fi nancial statements.
Standards, amendments and interpretations published by the International Accounting Standards
Board (IASB) and adopted by the European Union, but only mandatory for fi nancial years beginning on,
or after January1, 2015 and not early adopted by the Group
Ubisoft has not opted for an early application of the new standards, amendments or interpretations published at March 31, 2016 (adopted
or being adopted by the European Union) and presented below:
Standards Consequences for the Group
Annual
Improvements
2012/2014
Improvements to International Financial
Reporting Standards
The “annual improvements” of the IASB amended a number of existing
standards. The application date within the European Union is not yet known.
Amendment
to IFRS11
Accounting for acquisitions of interests in
joint operations. (applicable to fi nancial years
beginning on or after January1, 2016)
This text clarifi es the accounting for acquisitions of an interest in a joint
operation which constitutes a business within the meaning of IFRS3– Business
combinations.
This text shall have no effect on the Group’s consolidated fi nancial statements.
Amendment
to IAS16
andIAS38
Clarifi cation of acceptable methods of
depreciation and amortization (applicable to
fi nancial years beginning on or after
January1, 2016)
This text states that the amortization base must correspond with the
consumption of future economic benefi ts and that an amortization method
based on revenues is inappropriate.
Amendment
to IAS16
andIAS41
Agriculture– Bearer plants; (applicable to
fi nancial years beginning on or after
January1, 2016)
This text amends the accounting of bearer biological assets. Under this
amendment, these assets come under the scope of IAS16.
This text shall have no effect on the Group’s consolidated fi nancial statements.
Amendment
to IAS27
Equity method in separate fi nancial
statements (applicable to fi nancial years
beginning on or after January1, 2016)
This text aims to allow entities to use the equity method in the accounting of
investments in subsidiaries, joint ventures and associates in their separate
fi nancial statements.
This text shall have no effect on the Group’s consolidated fi nancial statements.
- Registration Document 2016
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